C3.ai (NYSE:AI) CEO Thomas Siebel Sells 162,247 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 162,247 shares of C3.ai stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $10.54, for a total transaction of $1,710,083.38. Following the completion of the sale, the chief executive officer owned 722,362 shares of the company’s stock, valued at $7,613,695.48. This represents a 18.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Up 2.0%

Shares of NYSE AI opened at $10.78 on Friday. The firm has a market cap of $1.67 billion, a PE ratio of -3.50 and a beta of 2.10. C3.ai, Inc. has a 12-month low of $7.68 and a 12-month high of $20.22. The company’s fifty day simple moving average is $9.83 and its 200 day simple moving average is $9.47.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The business had revenue of $52.38 million during the quarter, compared to analysts’ expectations of $52.06 million. During the same period last year, the company posted ($0.37) earnings per share. The business’s quarterly revenue was down 25.4% on a year-over-year basis. On average, equities analysts predict that C3.ai, Inc. will post -2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AI has been the subject of a number of research analyst reports. Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd. UBS Group reiterated an “underperform” rating on shares of C3.ai in a report on Tuesday, September 1st. KeyCorp reissued an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. Morgan Stanley raised their price objective on C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, June 4th. Finally, DA Davidson restated an “underperform” rating and set a $7.00 price objective on shares of C3.ai in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $8.70.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Western Wealth Management LLC acquired a new stake in shares of C3.ai in the 1st quarter worth about $26,000. AdvisorNet Financial Inc bought a new stake in C3.ai during the 1st quarter worth approximately $34,000. Eurizon Capital SGR S.p.A. bought a new stake in C3.ai during the 4th quarter worth approximately $71,000. CoreCap Advisors LLC raised its stake in shares of C3.ai by 34.0% in the second quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock worth $56,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of C3.ai by 1,510.1% in the second quarter. Versant Capital Management Inc now owns 6,859 shares of the company’s stock worth $62,000 after purchasing an additional 6,433 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Company Profile

C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.

The company’s offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.